Paragon ISG Acquires Spirit Drilling Fluids

Adding deep drilling fluids experience with a proven track record in Texas and Louisiana

HOUSTON, TEXAS, USA, June 2, 2022 /EINPresswire.com/ -- Paragon ISG, a leading provider of energy and environmental services across the country, is pleased to announce the acquisition of the Spirit Drilling Fluids team and related assets. The team, led by Dan Kinshella, brings a combined 145 years of drilling fluids experience with over 900 wells drilled across four regions.

“In the past year we’ve done incredible work in Texas and New Mexico for

20 different customers, primarily in solids control. By bringing in Dan and his team today, we are positioning Paragon ISG to grow our drilling fluids market share in the Permian, Delaware, Haynesville, and Eagle Ford basins,” said Chris Pennington, President of Paragon ISG.

“This talented team brings a lot of knowledge to the table,” said Dan Kinshella, President of Spirit Drilling Fluids. “With this expertise, Paragon ISG can now provide a broader suite of offerings to customers in Texas and Louisiana.”

This acquisition will further enhance the Paragon ISG portfolio of industry-leading drilling fluids, solids management, and environmental services capabilities across the United States.

About Paragon Integrated Services Group LLC

Headquartered in Houston and founded in 2020, Paragon ISG is committed to help customers reduce the amount of fluids required to drill, to remove unwanted solids from industrial processes, and to restore natural environments to a more pristine state. Paragon ISG is owned by Palladium Equity Partners, LLC. For more information on Paragon ISG, please visit www.paragonisg.com.

About Palladium Equity Partners, LLC

Palladium is a middle market private equity firm with nearly $3 billion in assets under management. The firm seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital, strategic guidance and operational oversight. Since its founding in 1997, Palladium has made 36 platform investments and 141 add-on acquisitions.

Palladium is a signatory of the United Nations supported Principles for Responsible Investment (PRI). The PRI is recognized as the leading global network for investors committed to integrating environmental, social and governance (ESG) considerations into their investment decision making. For more information on Palladium, please visit www.palladiumequity.com.